Connect with us
WINNING COMBINATION

Latest News

9 Aspects to Look For in a Top iGaming Payment Provider

Published

on

Reading Time: 5 minutes

There are hundreds of iGaming payment providers out there. Which one will meet your demands? Many businesses ask this question. Not many get the right answer.

With the global online gaming market expected to reach $127 billion by 2027, getting the right iGaming payment services is paramount. Simply put, the better provider you have, the more customers you can serve, the faster payments will be, and the higher your income you will have.

Yet, choosing the right provider can be challenging, especially with the unique needs of high-risk industries like iGaming. In this piece, we will go through a nine-point checklist. These steps ensure you enter a pool of top iGaming payment providers.

So, buckle up.

 

1. Verify If an iGaming Software Provider is High-Risk Friendly

iGaming is a high-risk industry. That means higher fees and more scrutiny. Choose a provider specialising in high-risk sectors to avoid disruptions and reduce transaction rejections.

Keep note: Not all payment providers are willing to work with high-risk industries, leading to potential delays or increased fees.

The right iGaming payment provider must have these aspects to be truly high-risk friendly:

  1. Have no volume restrictions
  2. Understand the industry to the bone
  3. Provide a dedicated account manager with expert knowledge of the sector
  4. Support licenses in different jurisdictions

 

2. Check How Long It Takes for an iGaming Payment Provider to Open a Business Account

Now, you narrowed down the list of best payment providers for iGaming. The next important question to ask:

 How long will it take to open a business account?

In most cases, when you need to open a business account, you can expect two challenges:

  1. Lengthy approval process.
  2. A lot of documents to provide.

 

Many banks does not understand industries like iGaming. That is why they ask tons of unrelated questions and require documents you don’t simply have. As a result, getting a business account can take weeks or months.

A good provider opens a business account for you in several weeks. A great iGaming software solutions provider opens a business account in about 48 hours.

https://account.paydo.com/en/auth/business/sign-up

 

3. Make Sure an iGaming Payment Provider Has SWIFT In Their Arsenal

For international transactions, SWIFT is a must. This scheme allows for faster, more secure iGaming transactions. It reduces delays and ensures smooth processing of player deposits and withdrawals.

Without SWIFT, iGaming operators risk slower processing times and dissatisfied players. Yet, the rule of thumb dictates that the more payment schemes you have access to the better.

 

4. Does iGaming Payment Provider Offer Multiple Currencies?

This should be your next question. Even if an iGaming payment provider is high-risk friendly, opens a business account fast, and is connected to SWIFT, this does not mean you get many currencies to work with. You still need to pay contractors in their local currency.

Also, setting up a multicurrency account can come at a significant cost. Banks and EMIs impose additional charges for each extra currency you might need.

 

5. Check If an iGaming Payment Provider Offers Merchant Services

If you have a website accepting payments, you need a good checkout.

What constitutes a “good” checkout?

In most cases, the number of chargebacks, holds, rolling reserves, as well as payment methods available. Besides, you want a checkout that can be easily integrated.

 

6. What About Mass Payouts?

Every iGaming operator knows how hard it can be to send multiple payments to several customers. When you don’t have mass payments with your iGaming provider, every payment must be made one by one. Without saying, it will take a lot of your time and nerve.

.

7. Confirm Whether an iGaming Payment Provider Have Virtual and Physical Cards

Virtual and physical cards allow flexibility for both business payments and player withdrawals. They can be used for payouts, ad spending, or corporate expenses. Besides, having a personalised plastic card speaks volumes about your brand.

 

8. Compliance With Global and Local Regulations

After going through the arsenal of services of a chosen best iGaming payment provider, the next logical step is to look at compliance. You must be sure a selected provider has the legal right to provide certain services and operate in partnership destinations.

To illustrate, as an iGaming payment provider, one should have at least these:

  1. The Financial Conduct Authority (FCA).
  2. Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

 

As an add-on, a good iGaming payment provider should have an Authorised Electronic Money Institution (UAB) license. This one allows the platform to issue electronic money and offer related financial services within the European Union (EU) and European Economic Area (EEA).

 

9. Double-Check the Security Measures an iGaming Payment Provider Implements

For top iGaming payment providers these security measures are non-negotiable:

  • Built-in anti-fraud.
  • PCI-DSS Level 1 compliance.
  • 3D-Secure (3DS) technology.
  • Anti-money laundering (AML) protocols.
  • Automated KYC.

 

PayDo—All Payment Solutions in One Place

While all roads lead to Rome, all aforementioned aspects lead to platforms like PayDo.

PayDo is a payment ecosystem. It made sure all the aspects we talked about were covered. Namely, the platform is:

 

1. High-risk friendly:

    1. No volume restrictions.
    2. No hidden fees
    3. No minimal commitments
    4. No minimal balances
    5. No nonsense requirements
    6. All iGaming licenses (Curacao included).
    7. In-depth understanding of high-risk industries.
    8. Curacao and other licenses supported
    9. A dedicated account manager with extensive experience in iGaming
    10. Momentary payouts
    11. Scheduled payments
    12. 140+ destinations

 

2. Business account opening:

    1. Takes about 48 hours.
    2. Completely remote.
    3. Requires a standard package of documents.
    4. Onboarding is as quick as verification.

 

3. Nine payment schemes: 

    1. SEPA
    2. SEPA instant
    3. Fedwire
    4. Target 2
    5. FasterPayments
    6. Chaps
    7. BACS
    8. Kronos2

 

4. Multicurrency:

    1. Dedicated IBAN with 35+ currencies and 150 countries.
    2. Personal account with 12+ currencies.
    3. No extra charges for currencies.

 

5. Checkout:

    1. Zero chargebacks
    2. No holds or rolling reserve
    3. Easy API integration
    4. 350+ payment methods
    5. Localization
    6. Instant settlements
    7. Conversion rate > 98%
    8. Unlimited websites

 

6. Mass Payouts:

    1. Automatic payouts without any manual inputs.
    2. Customers receive their funds without fees.

 

7. Virtual and Physical Cards:

    1. Offer employees personalized cards.
    2. Improve corporate expense management.
    3. No limit on issuance.

 

8. Compliance and Security:

1.Licensed by:

      1. FCA.
      2. FINTRAC
      3. UAB.

 

2.Security measures:

      1. Built-in anti-fraud.
      2. PCI-DSS Level 1 compliance.
      3. 3D-Secure (3DS) technology.
      4. Anti-money laundering (AML) protocols.
      5. Automated KYC.
      6. Encryption.
      7. Safeguarding.

 

 

Besides, recently PayDo was nominated for the Payment Innovation of the Year award at a

reputable iGaming-focused SBC 2024 convention.

 

Finally, PayDo have become a SWIFT Direct Participant. Now the platform can send and receive messages directly through the SWIFT network without intermediary banks.

For PayDo clients, it means faster transaction speed and fewer delays.

 

Conclusion

When choosing a payment provider for iGaming, check these aspects:

  1. High-risk friendly;
  2. Business account opening;
  3. SWIFT availability;
  4. Multiple currencies;
  5. Merchant services;
  6. Mass payouts;
  7. Virtual and physical cards;
  8. Compliance;
  9. Security measures.

 

The list is that long because top iGaming payment providers like PayDo work hard to develop a solution that will stand out in a competitive market. With PayDo, you get the services of 8-9 payment providers in one place and under one contract.

Don’t hesitate to open an account right now. We are ready when you are!

Industry News

Endorphina Affiliate Hub: Huge Benefits for Affiliates

Published

on

Reading Time: < 1 minute

 

Endorphina, a leading developer of online casino games, has announced its new, groundbreaking Affiliate Hub. This centralized information base offers an improved user experience and a wide range of benefits for Endorphina’s affiliates.

Among the number of benefits, Endorphina’s Hub offers:

  • Access to a wide range of downloadable materials including videos, high-resolution images, banners, brand guidelines, graphic sets, and other resources.
  • Staying informed through a centralized hub for all Endorphina news, updates, and announcements.
  • A fully localized affiliate page in Spanish, allowing Spanish-speaking affiliates to access all necessary resources in their native language.

Take advantage of the updated Affiliate Hub – visit endorphina to check.

The Affiliate Hub also simplifies the registration process for new affiliates and is now available for access. Endorphina promises further exciting developments in the future. Joining the Endorphina Affiliate Hub gives affiliates access to contacts of relevant people and quick support from Endorphina’s team.

 

Continue Reading

Industry News

iGB Affiliate attracts registrations from 55 nations in just six weeks

Published

on

Reading Time: 2 minutes

 

iGB Affiliate which runs 20th – 23rd January alongside ICE at its new home at Fira Gran Via in Barcelona has affirmed its growing international credentials with igaming professionals from 55 nations already registering to attend, placing the show on course to break through the 100-nation landmark for the first time.

With the ‘Nuevos Horizontes’ (New Horizons) theme spearheading an international marketing campaign which went live in September the most represented nations comprise the UK, Israel, Malta, Cyprus, Spain, Italy and India.

Additional insights drawn from the data confirm the growing influence of Latin America with 35% of those registering operating in the region. In important news for exhibitors seeking fresh business opportunities, 1 in 12 of the total iGB Affiliate 2025 registrations are poised to attend the expo for the first time, bringing brand new attendees and potential partnerships to iGB Affiliate 2025.

Naomi Barton, iGB Events Global Portfolio Director, believes the registration data provides a window on the industry and the trends which underpin it. She stated: “One of our stakeholders predicted that iGB Affiliate 2025 would be – to quote him – a ‘really monstrous event’ and the data is supporting that opinion.

“All of our numbers are significantly up and the geographical distribution, in particular the 35% who operate in LatAm, reflect accurately what’s happening in the sector where the region, spearheaded by Brazil, has taken over from the US as the main geographical focus for affiliates.”

She added: “The industry is responding enthusiastically to a show which will feature a record 250 industry-leading exhibitors and sponsors and host a vibrant community of 8000+ iGaming Affiliates and Tech Vendors.

“The iGB Affiliate pledge is to facilitate outstanding business networking, deliver high-quality content, and provide thought leadership that fosters trust-based partnerships and drives growth throughout the iGaming affiliate ecosystem.

“By consistently delivering on these core objectives iGB Affiliate Barcelona will deliver a critical platform and opportunity for profitable business expansion.”

For more information including access to free Affiliate passes: barcelona.igbaffiliate.com

 

Continue Reading

Latest News

Former Gambling Minister the Rt Hon Stuart Andrew MP to speak at Bacta’s Annual Convention

Published

on

Reading Time: 2 minutes

 

The former Gambling Minister the Rt Hon Stuart Andrew MP who was named Shadow Secretary of State for Culture, Media & Sport in Kemi Badenoch’s top team has agreed to speak at the forthcoming Bacta Annual Convention which is taking place on Thursday 28 November.

Bacta members are on course to be at the 2024 Convention in record numbers based on the number of pre-event registrations received for the high-profile industry event.

With three weeks to go registrations are ahead of the same stage last year with members responding positively to Bacta’s ‘Going for Growth’ theme set against the new political landscape punctuated by Labour’s landslide General Election victory in July and November’s election of Kemi Badenoch as Leader of the Conservative Party. The confirmed attendance of the former Gambling Minister is likely to accelerate registrations.

Looking ahead to Convention George McGregor Bacta’s Executive Director (Government Relations) said: “First of all I am delighted that Stuart Andrew who oversaw the White Paper only to see it paused by July’s snap general election has agreed to join us at our Annual Convention. Members are responding in great numbers to both the Parliamentary Reception which is officially at full-capacity and to the Convention taking place the following day.”

He added: “Our keynote speakers which will include Stuart Andrew will feature in a panel which will explore amongst other topics the dynamics of the relationship between the industry and government, the fate of the White Paper and how we can collectively determine a future in which gaming operators are not expected to wait over a decade before they can raise their prices!”

He continued: “The Annual Convention is an important benefit of Bacta membership. It represents an invaluable opportunity to network with colleagues and quiz the politicians and officials who play such an important role in determining the future of an industry which pays an estimated £270 million in tax and contributes £1.9 billion to UK GDP.

 

Continue Reading
Advertisement
Alpha Affiliates
Advertisement

EveryMatrix

Advertisement

Launch your iGaming business swiftly and effortlessly with our comprehensive turnkey solutions

Trending (Top 7)

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.